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Global Crossing Is Poised
To Merge With U S West

By

Steven Lipin, Rebecca Blumenstein and

Stephanie N. Mehta Staff Reporters of The Wall Street Journal

Updated May 17, 1999 12:49 a.m. ET

Global Crossing Ltd., a Bermuda-based upstart phone carrier, is expected to announce that it is merging with U S West Inc. in a highly complex stock swap valued at more than $37 billion, according to people familiar with the matter.

The deal, which was approved by the boards of both companies Sunday, underscores how the telecommunications industry is being significantly reshaped by new players as well as more-established leaders.